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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
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